Summary: Cultural Ethics In Asian Bussines Realtions
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lecture 1
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What are the 2 reasons why we focus on Asia?
1) Asian economies growing share and integration in the world economy of the 21st century -
The financial disaster of 2008 lasted many years and had a very big influence nad everyone choose their own way to sovel it. What unethical thing was common that caused the financial disaster?
People start lying to the banks so that they could get lones -
What was the result of the financial disaster of 2008?
Small wrong things can become one big problem if many people do things wrong. -
What was the behaviour cast consequences for the economy by the player CEOs?
Much of their compensation is driven by stock price -
What was the behaviour cost consequences fro the economy by the player Financial professionals?
Paid huge salaries and bonuses for short-term results -
What was the behaviour cost consequences for the economy by the player Mortage Originators?
Relaxed lending standards and create sophisticated products consumers did not understand -
What was the behaviour cost consequences for the economy by the player Regulators?
''asleep at the switch'' -
What was the behaviour cost consequences for the economy by the player legislators?
Lobbied and 'paid' by the financial industry to relax regulations -
What was the behaviour cost consequences for the economy by the player Investors?
Punished companies that did not deliver huge returns -
What was the behaviour cost consequences for the economy by the player Home Owners?
Bought more hose than they could afford
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